business

Dangers of Growing too Fast

Posted by Carl Gould on January 27, 2011
Career, business, entrepreneur, small business owner / 2 Comments

It is every business owners dream to launch a hyper –growth business. But how fast is too fast?

If you are not properly prepared, you can grow yourself right out of business. Here are some of the signs…

  1. Quality Suffers: You don’t have enough time to double check or triple check your work. Minor defects that you would normally detect in the course of routine QA and QC processes are now slipping through the cracks.
  2. Customers Complaining: When your customers are telling you that you are not responsive in a timely fashion that may be a sign that you are growing beyond your capacity to service your existing customers.
  3. Low Operating Cash: When you are growing fast, your need to spend on materials and COGS will outpace your collections. Remember that business is a cash game. When you are out of cash you are out of the game.
  4. Time is Spread Thin: The faster you grow, the more demands there is on everyone’s time. If you lack the bandwidth to do a thorough job, the above-mentioned symptoms will get worse.

Fast growing companies can be exciting. They can also be dangerous. Many a company has spiraled out of control (and crashed) because they did not manage their growth. Would you like a FREE Business Analysis to make sure that your company manages its growth properly? Call our offices toll free at 877 GO 7 STAGES.

 “Carl L Gould is the President and Chief DISCoverY Officer CMT International, LLC (www.CMTmentors.com), the farthest-reaching business mentoring organization in the world. Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide.  His latest book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level”. Gould is also the author and creator of The 7 Stage Turnaround Process (www.7StageTurnaround.com).  7 Stage Consultants help business owners grow their sales, increase their cash flow and lower their expenses using a proven method of business growth strategies.  To learn more about our Consultants, go to http://7stageturnaround.com/mtc/mentorlist.php?groupid=1

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The Most Overused Business Buzzwords and Catchphrases

Posted by Carl Gould on September 09, 2010
business / No Comments

There are so many tired and worn out expressions that have worked their way into our daily business lives. Have we outsmarted ourselves? What do you think of some of these phrases?

  • It’s a numbers game.
  • Get your name out there.
  • No gimmicks.
  • Limited time.
  • Your call is important to us.
  • Net, Net
  • Do you the bandwidth for this?

There is a reason why these become catchphrases…because they have been proven to work. However, if overused, the consumer will turn a deaf ear to these expressions.

Carl L Gould is the president and Chief DISCoverY Officer CMT International, LLC (www.CarlGould.com), the farthest-reaching business mentoring organization in the world. Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide.  His upcoming book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level.

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What Is the Ideal Personality Type for Success

Posted by Carl Gould on August 11, 2010
7 Stage Success with Carl L Gould / No Comments

 Countless books have been written on this subject. People are in satiable in their quest to find the “right” or “ideal” profile for the successful entrepreneur.

I can answer this question with one word….

YOURS! 

Research has shown that there is no correlation between personality and performance. In other words, any personality style (yes, even yours) can be as successful as you want…if you apply yourself.

In the quest for finding the perfect formula of success, many biographies, books, articles, whitepaper and manifestos have been written to identify the ideal profile of success.

As a professional coach, business mentor and business advisor, I have seen all types of people with varied backgrounds be successful. I have also seen them fail. The consistent actions you take, time management and financial management are all keys to your success; and much more important than your personality type.

One effective method to becoming successful is modeling what others are doing; and do the same. The thinking is that by duplicating someone’s beliefs, habits, actions, etc., you will achieve similar results as they have achieved.

Is it that simple? Yes…and No.

Yes, achievers follow fundamental principles of success such as effective time management, goal setting, delegation, playing to their strengths, financial management and focus on their goals as well as many others. They also display a passion in their work. Simple right?

No, you can’t do exactly what they do and expect the same exact results. You aren’t them and you don’t live their lives. You can, however, follow the principles they have followed and adapt those principles to your own life.

First, you must connect to your passion. What drives you, excites you, motivates you? Build a business and a lifestyle around that.

Second, get your idea on paper. Visions and goals are great but until you commit your ideas to paper, you won’t get any closer to your dreams.

Third, build a team. Find others who are excited about your idea (hence the written plan!) and would like to participate in the development of that idea.

Fourth, call me @ 877 Go 7 Stages and I will give you a FREE consultation on how to take your business and life to the next level!

Carl L Gould is the president and Chief DISCoverY Officer for CMT International, LLC (www.CMTmentors.com), the farthest-reaching mentoring organization in the world. Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide. His latest book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level. To learn more about Carl, please go to www.CarlGould.com and www.The7StagesOfSmallBusinessSuccess.com

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